IZI Finance plc celebrated the listing of its €30,000,000, 4.25 per cent unsecured bond listing, with the traditional bell ringing ceremony event held at the Malta Stock Exchange (MSE).
The company is the financing arm of IZI Group, which is a leading local lottery, casino and retail betting operator.
In his welcome speech, MSE executive chairman, Joseph Portelli, congratulated IZI Finance plc on their success of their bond issue noting how a string of companies have sought to raise capital through the bond market and eventual listing on the MSE.
He welcomed the fact that a company representing the gaming industry has chosen the bond market to raise capital.
In a short speech at the event, Franco De Gabriele, executive director of IZI Finance and chief commercial officer of IZI Group plc, mentioned how 2021 was a defining year for the group, having successfully been awarded concessions to operate what essentially are two of the most important land-based gaming operations in Malta, namely the Dragonara Casino and the National Lottery of Malta.
Mr De Gabriele also stressed on the strategic importance of the next 10 years for the IZI Group: “The group has an investment plan of circa €135 million over the next 10 years, the vast majority of which is the investment in the concession fee of the National Lottery of €105 million to be paid to the Government of Malta.
“Another €30 million will be invested over the next 24 months to effectively fulfil the capital investment obligations of the company in our core businesses.
“The success of the IZI Finance plc bond issue was possible through the guidance and support of several entities including Rizzo Farrugia & Co Stockbrokers (sponsor & co-manager), Camilleri Preziosi (legal counsel), Bank of Valletta plc (registrar and co-manager) and Grant Thornton (financial auditors).”
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